Ieq Capital LLC Purchases 3,603 Shares of Crown Castle Inc. $CCI

Key Points

• Ieq Capital LLC increased its stake in Crown Castle Inc. by 17.3% in the first quarter, bringing their total shares to 24,445, valued at approximately $2.5 million.
• Several institutional investors, including Vanguard Group and Deutsche Bank, have significantly increased their holdings in Crown Castle, indicating strong institutional interest in the company.
• Crown Castle reported a quarterly revenue of $1.06 billion, surpassing expectations, but its earnings per share (EPS) decreased year-over-year to $1.02.

Ieq Capital LLC boosted its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 17.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,445 shares of the real estate investment trust's stock after purchasing an additional 3,603 shares during the quarter. Ieq Capital LLC's holdings in Crown Castle were worth $2,548,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Iron Horse Wealth Management LLC bought a new position in shares of Crown Castle during the first quarter valued at approximately $26,000. Centerpoint Advisors LLC bought a new position in shares of Crown Castle during the first quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new position in shares of Crown Castle during the first quarter valued at approximately $26,000. Stone House Investment Management LLC bought a new position in shares of Crown Castle during the first quarter valued at approximately $27,000. Finally, American National Bank & Trust bought a new position in shares of Crown Castle during the first quarter valued at approximately $29,000. Institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Scotiabank raised their price target on Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Barclays reduced their price target on Crown Castle from $121.00 to $119.00 and set an "overweight" rating for the company in a report on Monday, August 18th. JMP Securities reissued a "market outperform" rating and set a $125.00 price target on shares of Crown Castle in a research report on Thursday, July 24th. Finally, BMO Capital Markets raised shares of Crown Castle from a "market perform" rating to an "outperform" rating and raised their price target for the company from $115.00 to $120.00 in a research report on Tuesday, August 19th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $116.41.

Crown Castle Price Performance

NYSE CCI traded down $1.72 during trading hours on Thursday, hitting $95.36. The company's stock had a trading volume of 2,034,867 shares, compared to its average volume of 3,232,979. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The company's 50 day simple moving average is $103.71 and its two-hundred day simple moving average is $101.18. The company has a market cap of $41.52 billion, a P/E ratio of -8.94, a price-to-earnings-growth ratio of 0.75 and a beta of 0.92.

Crown Castle (NYSE:CCI - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.02. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the firm posted $1.62 EPS. The firm's revenue was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, research analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Monday, September 15th. Crown Castle's payout ratio is currently -39.83%.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service - bringing information, ideas and innovations to the people and businesses that need them.